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Author Topic: chit fund transfer fraud  (Read 1749 times)

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Offline deemuug

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chit fund transfer fraud
« on: September 28, 2014, 03:40:52 PM »
We were introduced to a chit fund agent srinivas who was working for margadarsi chit funds company by a very reliable close family friend in bangalore. He seemed genuine and very honest and hence we thought  of going a chit fund.   He said he had a party (damodar raj) who had been paying for a chit since 20 months and couldn't pay further  of 20 months and wanted to transfer the chit, after the 20 months money settlement is done which he had paid so far. we decided to go for transfer and gave him the cheque for around 4 lakhs.    The money was with drawn in the name of pv parvathamma 2 yrs back (we got to know later that pv parvathamma is mother in law of agent srinivas and was also agent of margardarsi chit fund).  After that, the chit was not transferred and we couldn't get any agreement or any doocument also.   Only proof what we have is the all the transaction we made through Cheque..  The agent srinivas had been assuring it would be done and the transfer never happened.   At some point he stopped answering poor calls. After rigorous follow up, he introduced the party damodar raj and he kept himself away from the issue.   Meanwhile agent srinivas quit margardarsi chit fund and seems he relocated or ran away to hyderabad after selling all his property in bangalore.  He never picked up our calls after that.   

Now the issue is -
1.  We spoke to party damodar raj who agrees that he will pay back money but he is saying he doesnot have money now.
2. Since we don't have any document nowhow should we proceed legally only with the cheque withdrawn in the name of pv parvathamma

3. We don't have anybody adress neither agent who ran away nor even the party damodar raj.
How should we proceed to get our money back.......  All these days we have spoken to damodar raj in phone who is not denying about the transaction...donno when he will turn against and run away....please help



Offline advbanani

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Re: chit fund transfer fraud
« Reply #1 on: September 28, 2014, 06:58:57 PM »
what are you waiting for?
lodge an FIR immediately, your cheque proof is enough to get this matter ahead, do not waste any more time
Adv.Banani Mukherjee"
Jodhpur High Court
Accident Claim and Cheating cases

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Re: chit fund transfer fraud
« Reply #1 on: September 28, 2014, 06:58:57 PM »


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